Stealth Software Company chooses Vancouver over Silicon Valley

Vancouver, British Columbia (MMD Newswire) February 13, 2012 -- Digital Alchemy, a secretive new software company that is developing sophisticated Artificial Intelligence (AI) based risk management solutions for asset managers, has decided to launch in Vancouver after an exhaustive review of potential home bases that included; Geneva, Hong Kong, Singapore and of course Northern California.

The management team has deep global experience and is led by CEO and part time Whistler resident J. Bradley Hall who commented, "On the revenue side we certainly have to align ourselves with our customers who are in key financial centers like Boston, New York, London, Geneva and Hong Kong and establishing a sales presence is non negotiable. On the development side, what we are seeing in the Bay area is reminiscent of my time running a fund there in the 90's where easy money is starting to decouple valuations from reality or put another way, people are starting to party like it's 1999. The trickle down effect manifests in inflated costs and technical talent that wants to be compensated like first round draft picks. In BC, we have access to highly trained technical talent, a competitive cost base and can offer employees who share our work to live approach a lifestyle that is second to none."

Mr. Hall added, "In the 90's prior to moving to San Francisco to invest in tech, I was fortunate to be a part of a team that launched the Triax Growth Fund in Toronto, which packaged federal tax credits into an investable fund. We raised about $130 million and went on to have $1.8 billion AUM when the fund was sold. Those types of tax incentives have largely been wound down except for here in BC, where a limited number of companies like Digital Alchemy have been approved to raise up to $5 million and offer 30% refundable tax credits to investors. Companies can also participate."

In closing Brad commented, "The genesis of the DA solution is the AI based platform we successfully deployed at our gold trading business in Hong Kong which is on track to log several billion dollars in profitable trades this year. When investors from any of the 30 countries we operate in ask "why BC"? for Digital Alchemy, I put my elevator pitch on pause and simply pull my phone out and share a few pictures of Stanley Park, hiking up the Grouse grind or carving fresh tracks in 7th Heaven on a bluebird day and no further explanation is required. Let's face it Vancouver is a pretty cool place to come home to."